The news follows the announcement that investment giant Fidelity will enable investors to be able to allocate a portion of their 401(k)s into Bitcoin later this year, according to a report in the Wall Street Journal. MicroStrategy CEO and Bitcoin advocate Michael Saylor tweeted: he added: Notably, Microstrategy chairman and CEO Saylor had recently dismissed rumors that the company is secretly selling its Bitcoin holding.
Fidelity expects crypto to shape future of investing
Fidelity will provide the new option to its clients through its new workplace digital assets account (DAA), launched on April 26, according to a press statement. Dave Gray, Fidelity’s head of workplace retirement offerings and platforms, said: The aim is to allow investors to contribute up to 20% of their retirement funds to bitcoin; however, plan sponsors may choose to decrease that barrier at their discretion. Gray added that the offering would be exclusive to Bitcoin and would not consider other cryptocurrencies from the outset. As per the press release: Finally, Fidelity’s trading and custody platform will allow employees to invest up to 20% of their account balances in a Bitcoin account, in addition to allowing them to transfer the equivalent amount of their payroll contributions to the Bitcoin account as mentioned with MicroStrategy.
